Connect with us

Hi, what are you looking for?


Budget release rate hits 61.4% at end of Feb.

THE Department of Budget and Management (DBM) said 61.4% of the 2023 national budget has been released as of the end of February.

In its Status of Allotment release report, the DBM said that P3.23 trillion of the budget has been released to national agencies and local government units.

This leaves P2.033 trillion remaining undistributed from the P5.268-trillion budget for the year.

The pace of releases was slightly ahead of the 60.8% rate posted a year earlier.

At the end of February, releases to government agencies and departments amounted to P2.7 trillion or 85.9% of the total.

Special Purpose funds released totaled P101.9 billion, a utilization rate of 19.8%.

Automatic Appropriation releases totaled P313.2 billion or 19.5% of the budgeted funds for the year.

These include the P80.64 million for retirement and life insurance premiums of various National Government agencies and P10 billion for the Rice Competitiveness Enhancement Fund. — Luisa Maria Jacinta C. Jocson

Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

You May Also Like

World News

Toronto’s school board has become the first in Canada to recognize that caste discrimination exists in the city’s schools and has asked a provincial...


A PROPOSAL to reduce tariffs to zero for imports of natural gypsum will stimulate domestic production of gypsum board, a construction material used in...


Tomorrow is Ash Wednesday. For Catholics around the world, it is the beginning of Lent, a period for reflection and contemplation. Speaking of reflection,...


THE Bureau of Internal Revenue (BIR) is studying the establishment of an international tax division specializing in deterring transfer pricing abuses. “We are trying...

Dislaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2023 All Rights Reserved. Spirit